1205 E Lyons Rd #4 · Spokane, WA 99208

$122,900

2 bd · 2.0 ba · 2,232 sqft · Manufactured public records · 28 Days on market

Built 1976

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Contempo Mobile Home Park! This wonderful, 55+ community features a common area, pool and clubhouse. The home is a double wide, with attached parking and plentiful storage in the garage. 2 living rooms and primary bedroom with attached full bathroom. All appliances stay. Come enjoy the deck off the front of the home and the convent access to the common clubhouse and pool, just across the street.

Key facts

• Deck off the front
• Enclosed porch room
• 2 garage spots

Tags

• DOUBLE WIDE MANUFACTURED HOME
• ENCLOSED PORCH ROOM
• DECK OFF THE FRONT
• ATTACHED 2 CAR GARAGE
• FULLY ENCLOSED GARAGE
• PATIO FOR ENTERTAINING

Property features AI

Finance

• HOA & community: HOA / association present; Senior community; Community recreation area; Located in Contempo MH Park; Land lease: $750

Exterior

• Parking: Attached garage with workshop area; Garage door opener; Oversized garage; 2 garage spaces; Off-site parking available
• Utilities: Cable available; High-speed internet available (X-Finity)
• Home design: Manufactured home (structure type: Manufactured House); Single-story (Manufactured Home); Make: BROO 60/24T
• Construction: Steel frame construction; Composition roof
• Exterior features: Deck; Fenced yard; Automatic sprinklers; Level lot; Private and paved road frontage; Community pool

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Wood flooring
• Heating & cooling: Natural gas forced air heating; Central air conditioning
• Interior features: Pantry; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $123k.

Deal economics

• At list price, monthly cash flow is $711 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $121k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 3.2% in Spokane — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#93 in WA, #1,822 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Spokane School District (urban): math 47% / reading 58% proficiency, ranked #136 of 291 in WA (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 462 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 3,608 units permitted in Spokane County in 2024 (1,792 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Spokane County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $31k; list at $123k implies a 296% gain — meaningful room to come down on a strong offer.

Recommended offer $121,056 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.54% ✓
• Cap rate: 13.24%
• Cash-on-cash: 24.80%
• DSCR: 2.10
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.60×
• Total profit: $20,647
• Equity at exit: $18,325

10-year hold

• IRR: 22.2%
• Equity multiple: 2.68×
• Total profit: $57,835
• Equity at exit: $10,626

Cash invested: $34,412 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 28 Tenant-Leaning
• State Washington: 28 Tenant-Leaning · D+8
• County: — inherits STATE
• City: — inherits STATE

Just-cause statewide (2021); Seattle layers rent control restrictions + relocation assistance; very tenant-friendly.

Methodology + full state rankings →

ZIP-level market 99208

• Rents YoY: 0.5%
• Active inventory: 462
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,896 high
• Mortgage (P&I): −$645
• Tax from tax record: −$91 /mo · $1,094/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $711

Break-even live

Break-even rent $996

Max offer price $122,900

Occupancy floor 57%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $30,725
• Closing costs: $3,687
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
723 E Sitka Spokane, WA	2.0	2.0	1400	$1,875	$1.34	13d	1	0.30mi
6903 N Cincinnati St Spokane, WA	3.0	2.0	1600	$2,100	$1.31	23d	1	0.32mi
510 E Dalke Ave Spokane, WA	2.0	1.0	1500	$1,595	$1.06	21d	1	0.71mi
1508 E Nebraska Ave Spokane, WA	3.0	2.0	2200	$1,995	$0.91	23d	1	0.89mi
636 E Magnesium Rd Spokane, WA	1.0–3.0	1.0–3.0	1053	$1,780	$1.69	13d	12	1.06mi

Listing history 13 events

1. 2026-05-31
   status $122,900 Pending 28 DOM
2. 2026-05-01
   listed $122,900 Active
3. 2026-04-30
   historical
4. 2026-03-27
   price $124,900
5. 2026-01-22
   status Active
6. 2026-01-22
   price $129,900
7. 2026-01-12
   status Pending
8. 2025-12-03
   listed $135,000 Active
9. 2022-01-05
   soldstatus $31,000 Sold 409-char remark

   Show marketing remark (409 chars)

   Welcome to Contempo Mobile Home Park! This wonderful, 55+ community features a common area, pool and clubhouse. The home is a double wide, with attached parking and plentiful storage in the garage. 2 living rooms and primary bedroom with attached full bathroom. All appliances stay. Come enjoy the deck off the front of the home and the convent access to the common clubhouse and pool, just across the street.

10. 2021-12-23
    historical 409-char remark

    Show marketing remark (409 chars)

    Welcome to Contempo Mobile Home Park! This wonderful, 55+ community features a common area, pool and clubhouse. The home is a double wide, with attached parking and plentiful storage in the garage. 2 living rooms and primary bedroom with attached full bathroom. All appliances stay. Come enjoy the deck off the front of the home and the convent access to the common clubhouse and pool, just across the street.

11. 2021-12-23
    listed $61,000 409-char remark

    Show marketing remark (409 chars)

    Welcome to Contempo Mobile Home Park! This wonderful, 55+ community features a common area, pool and clubhouse. The home is a double wide, with attached parking and plentiful storage in the garage. 2 living rooms and primary bedroom with attached full bathroom. All appliances stay. Come enjoy the deck off the front of the home and the convent access to the common clubhouse and pool, just across the street.

12. 2016-06-01
    soldstatus $33,000
13. 2016-04-07
    listed $38,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast WA · Resets to sale price

• Current annual tax: $1,094 · $91/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: +$111/yr (+$9/mo · 10.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 6 d/yr ≥94°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 10/10 Extreme 19 unhealthy d/yr today · 21 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,755
• − Mortgage interest: −$6,884
• − Property taxes: −$1,094
• − Insurance: −$614
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − Depreciation: −$3,575
• Taxable income: $6,947
• Est. tax owed @ 24.0%: −$1,667
• After-tax cash flow: $6,867/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Spokane School District
• NCES district ID: 5308250
• Math proficiency: 47% ▲ 1.00%
• Reading proficiency: 58% ▲ 1.00%
• Median HH income: $43,187
• Composite: 46.1/100
• National rank: #5477
• State rank: #136 of 291 in WA

Livability — Spokane

• Score: 80/100
• State rank: #93
• US rank: #1822

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime F Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spokane, WA
• County: Spokane County · 496,401 people
• City population: 298,820
• Metro: Spokane-Spokane Valley, WA
• Population (ZIP): 58,669
• Household income: $88,599
• Rent vs Own: 33.2% rent · 66.8% own
• Severe rent burden: 1832.0

Population outlook (Spokane County) Hauer SSP2

• Today (2025): 531,314 people
• By 2030: 549,278 · +3.4%
• By 2040: 577,822 · +8.8%
• By 2050: 598,188 · +12.6%
• By 2075: 630,744 · +18.7%
• By 2100: 622,360 · +17.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 7% Hispanic / Latino 5% Black 2% Asian 2% Pacific Islander 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Portuguese 4% Italian 2% Lithuanian 2%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Asian/Pacific 1%

Political lean MEDSL · Spokane

• 2024 margin: Toss-up / Even · D 46.0% · R 51.0% · Other 3.0%
• 2008→2024 swing: -3.8pp toward R · 2008: -1.1pp · 2024: -5.0pp
• All cycles: 2024: R+5.0 2020: R+4.3 2016: R+8.3 2012: R+6.3 2008: R+1.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -392.58%
• Current HPI: 324.2299
• Rent YoY: ▲ 0.46%
• Metro: Spokane-Spokane Valley, WA
• State GDP YoY: ▲ 4.65%
• F500 in state: 22

Industry mix (Fortune 500 HQ in WA)

Industry	F500 HQs	Revenue
▸Retail	2	$269B
▸Technology / Retail	1	$638B
▸Technology	1	$245B
▸Telecommunications	1	$38B
▸Food / Beverage	1	$36B
▸Automotive / Trucks	1	$34B

Price history

+223.4% since first listed

12 events — show timeline

• 2026-05-01 Listed $122,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-04-30 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2026-03-27 Price Changed $124,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-01-22 Relisted — SPOKANEMLS as Distributed by MLS Grid
• 2026-01-22 Price Changed $129,900 SPOKANEMLS as Distributed by MLS Grid
• 2026-01-12 Pending — SPOKANEMLS as Distributed by MLS Grid
• 2025-12-03 Listed $135,000 SPOKANEMLS as Distributed by MLS Grid
• 2022-01-05 Sold (MLS) $31,000 SPOKANEMLS as Distributed by MLS Grid
• 2021-12-23 Listed $61,000 SPOKANEMLS as Distributed by MLS Grid
• 2021-12-23 Listing Removed — SPOKANEMLS as Distributed by MLS Grid
• 2016-06-01 Sold (MLS) $33,000 SPOKANEMLS as Distributed by MLS Grid
• 2016-04-07 Listed $38,000 SPOKANEMLS as Distributed by MLS Grid

Property tax history

+12.8%/yr

Latest (2026): $1,094 · +12.9% YoY. Source: county tax records.